Half Year Results 

Direct Line back on the income trail

Direct Line back on the income trail

Direct Line (DLG) has reinstated its dividend payments at the half-year mark, while compensating for the April cancellation of the 2019 final dividend by announcing a 14.4p special dividend, which gives an underlying yield of 4.5 per cent. That earlier cancellation and suspension of a £150m share buyback boosted the insurer’s solvency capital ratio. But even factoring these new payments, the measure stands at a healthy 192 per cent, a result of strengthening capital generation and the issue of £260m of Tier 2 debt.

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